‘Google Tez’ works in affiliation with four Banks — Axis Bank, HDFC Bank, ICICI Bank and State Bank of India to make easy the processing of payments across over 50 UPI-enabled banks.

Finance Minister Arun Jaitley who launched the app here had said the idea of “Tez” was discussed by Pichai in January, just after demonetisation. “Google saw a great potential in Indian economy and businesses,” Jaitley said, adding that Google’s new digital payments app over the next few months was likely to make major advances in digital transaction volumes. Built on the Indian government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts.